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let me just clarify my question with an example: Let's say you want to transfer 1 eth from an account A to an account B, both on the binance exchange. When A goes to "Withdrawal" on his eth on binance to send his eth to B there is two options :

  • Transfer on Ethereum blockchain
  • Transfer on Binance Smart Chain

So here is my question: How is it possible to send your eth through the BSC, while they are not on it since they are eth so they are on ethereum's blockchain. What happens to the 1 eth being transfered, does it change blockchain on route to B or does it disappear and another one is created by the BSC on B's wallet ?

Thank you for your answers.

raphael
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1 Answers1

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It's two separate blockchains - Ethereum and BSC.

  • In case of the Ethereum chain, the ETH are the native currency
  • But on BSC, the "ETH" is actually just a token

So Binance holds some large amount of both assets. If you send them the native ETH, they store it in their native ETH wallet. If you then withdraw the "ETH" BSC token, they send it from their BSC wallet. And they also allow interchangeability to some extent.

Petr Hejda
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